20221107 Premarket Prep Gold - Bear Market Trader
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20221107 Premarket Prep Gold

#Fin­twit #XAUUSD #GOLD #Mar­ket­Pro­file #Order­flow

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

  • MN
    • Price trad­ing above Body, with­in Range
  • W1
    • Pos­si­ble W1 Phase 1 / 3
    • W1 Bull Engulf with longer buy­ing wick clos­ing with­in W1 Sup­ply LiDC
    • Price trad­ing above MN/W1 QLo

Nar­ra­tive

  • D1
    • Big Bull Engulf clos­ing with­in W1/D1 Sup­ply LiDC coin­cid­ing with D1 50MA in DT
    • D1 QLo reject­ed, price trad­ing mid swing
  • H4
    • H4 trad­ing with­in Wide H4 QHi above H4 UKC in R with­in supply
  • Trend
    • Trend is Down 2/3
  • Mar­ket Profile 
    • Val­ue cre­at­ed above the pre­vi­ous although still with­in over­all range
  • LN Open
    • Day opened with a gap down
    • LN Wider than NY
    • Prev. Day Exceed­ed ADR by 1.84
    • 1.13xASR Above Val­ue, Out­side Range
    • Large to Huge Imbalance
    • Asia formed a Neu­tral Day but most­ly trad­ed down
    • 0.63xASR IBR (pos­si­ble momentum)

Addi­tion­al Notes

  • N.A.

Hypos

  • Hypo 1
    • Short
    • Failed Auc­tion
  • Hypo 2
    • Long
    • Late-Sus­tained Auction
  • Hypo 3
    • Short
    • Rever­sal, Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

  • 3

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals 
    • Use SL scaling

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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